Cattle trade…wave 4 targets

Live cattle are finally pushing towards my wave 4 targets of 14075 to 13886 in a deep wave 4… ( April contract)) 

Sugar trade …

Great chance sugar has corrected enough in 1 of my fav setups. I'm currently buying as I have reached my target price of low 17's to high 16's. Now I need a quick reversal and a gring higher into the close

Positions: oct 1752,1753 and resting orders at 1745. 

Copper due for a bounce…

May copper looks to have finished the impulse down and I'm looking for a bounce and possibly a bottom in place . 

As you can see from the chart below , commercial traders are at an extreme on the daily chart and a nice bounce looks like it may be just around the corner.

Natural gas still in wave 4?

Natural gas looks to still be putting in a w4 corrective wave as they are overlapping and definitely not impulsive… 

It will cease to be a wave 4 if we get a push below the 4244 level. Right now it feels like a deep wave 4 as wave 2 was shallow.  We shall see if this is the correct count and if it is the wave 5 up it should be a doozy

Canadian dollar… 5th wave of c leg

The 5th wave of the c leg in this zig zag for a w2 looks almost complete. How can I tell we have broken into the 5th wave? Anytime you see a triangle forming the probability that you are in a 4th wave is very high. We just demonstrated this on the Canadian dollar and a target of 86.50 to 87 can be drawn. Another clue that we may be finishing up is that the commercials are heavy net long as you can see by the chart above.

June Pork… what goes up must come down

The pork has been relentless but it looks as if the 13227-13240 on the upside  is holding for the time being. A second count having June hogs starting the wave 1 @ 87.02 and ending @ 10212 is still a possibility and moves the wave extension to the 13740 area. My first wave extention will be the primary count @ 132.27-40. 

Positions: still holding short from 132.30 and 132.15. 

Pork top in place last night?

After watching pork for a while we have finally hit a price that may provide some good overhead resistance as my price target for wave 3 of three has been hit at 132.20-30 as stated in my last pork update.

 If this indeed is the correct count then we should see a deep wave 4 to 1st target of 119.10 and second target of 115.00. While wave 3's are dangerous to short the risk reward on this trade seems to be at a great ratio to trade. 

As of this writing we are currently 132.425 on June lean hogs…

Positions : short June from 132.15, 132.30 . 

Cup and handle setup for dec corn

Dec corn looks like after small 5 waves up we are in the process of making a cup and handle formation to bottom corn out. It appears we are in a possible zig zag for a wave 2. Target price for dec corn are 468.1/4. And once complete we should see a nice rally in a wave 3 of wave 1 on the daiIy chart. 

Dec corn daily chart